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May 2022Technicals Talk: ICT (16 May 2022) by RCBC Securities
ICT continued to drop by 4.10% last Friday to close at PHP 206.00 below the 100-day-EMA.
ICT continued to drop by 4.10% last Friday to close at PHP 206.00 below the 100-day-EMA.
ICT has been in a stable range for the past few trading sessions. The stock has been consolidating between PHP
ICT rallied back at the end of May 2 trading to remain unchanged and closed below the 50-day EMA.
ICT closed at P218.60. Based on the weekly chart, we believe the stock remains
Bearish engulfing at critical resistance levels.
Relative to the index, ICT is one of the most stable heavyweights that have yet to break down amid increasingly bearish market sentiment.
ICT closed at PHP 226.60. We believe the stock remains
ICT closed slightly above the 20-day EMA . The stock has been trading sideways after
ICT rallied towards the latter half of the session yesterday, jumping +4.59% to close at a record high of PHP 228.00.
ICT closed at PHP 228.00. We expect the trend to